Short Interest in Adient plc (NYSE:ADNT) Declines By 5.7%

Adient plc (NYSE:ADNT) was the recipient of a large decrease in short interest in July. As of July 31st, there was short interest totalling 4,790,000 shares, a decrease of 5.7% from the July 15th total of 5,080,000 shares. Currently, 5.6% of the shares of the company are short sold. Based on an average daily volume of 1,170,000 shares, the short-interest ratio is presently 4.1 days.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the company. SummerHaven Investment Management LLC raised its holdings in shares of Adient by 1.8% in the fourth quarter. SummerHaven Investment Management LLC now owns 17,327 shares of the company’s stock worth $630,000 after buying an additional 310 shares during the period. ProShare Advisors LLC grew its holdings in shares of Adient by 2.0% in the first quarter. ProShare Advisors LLC now owns 20,885 shares of the company’s stock worth $688,000 after purchasing an additional 417 shares during the last quarter. CWM LLC increased its stake in Adient by 44.5% in the 2nd quarter. CWM LLC now owns 1,439 shares of the company’s stock worth $36,000 after buying an additional 443 shares during the period. Verdence Capital Advisors LLC lifted its holdings in Adient by 6.4% during the 1st quarter. Verdence Capital Advisors LLC now owns 8,342 shares of the company’s stock valued at $275,000 after buying an additional 501 shares in the last quarter. Finally, Watershed Asset Management L.L.C. lifted its holdings in Adient by 8.2% during the 4th quarter. Watershed Asset Management L.L.C. now owns 7,818 shares of the company’s stock valued at $284,000 after buying an additional 595 shares in the last quarter. Institutional investors own 92.44% of the company’s stock.

Adient Trading Up 1.7 %

NYSE ADNT opened at $22.23 on Monday. The company has a debt-to-equity ratio of 1.00, a quick ratio of 0.91 and a current ratio of 1.13. Adient has a fifty-two week low of $20.18 and a fifty-two week high of $40.47. The stock has a 50 day simple moving average of $24.38 and a two-hundred day simple moving average of $28.88. The stock has a market cap of $2.00 billion, a P/E ratio of 13.64, a price-to-earnings-growth ratio of 0.46 and a beta of 2.19.

Adient (NYSE:ADNT) last announced its quarterly earnings data on Tuesday, August 6th. The company reported $0.32 earnings per share for the quarter, missing analysts’ consensus estimates of $0.62 by ($0.30). Adient had a return on equity of 8.72% and a net margin of 1.04%. The firm had revenue of $3.72 billion during the quarter, compared to analysts’ expectations of $3.82 billion. During the same quarter in the previous year, the firm earned $0.98 earnings per share. Adient’s revenue was down 8.4% on a year-over-year basis. On average, analysts forecast that Adient will post 2.14 earnings per share for the current year.

Wall Street Analysts Forecast Growth

ADNT has been the topic of several recent analyst reports. UBS Group decreased their price target on Adient from $27.00 to $24.00 and set a “neutral” rating on the stock in a research note on Wednesday, August 7th. BNP Paribas raised shares of Adient from an “underperform” rating to a “neutral” rating and set a $26.00 target price for the company in a report on Monday, July 1st. Deutsche Bank Aktiengesellschaft lowered their price objective on shares of Adient from $32.00 to $30.00 and set a “hold” rating for the company in a research report on Monday, May 6th. Bank of America cut their target price on shares of Adient from $42.00 to $40.00 and set a “buy” rating on the stock in a research report on Monday, July 22nd. Finally, Wells Fargo & Company lowered their price target on shares of Adient from $33.00 to $32.00 and set an “overweight” rating for the company in a report on Tuesday, June 25th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, Adient has a consensus rating of “Hold” and an average target price of $28.00.

About Adient

Adient plc engages in the design, development, manufacture, and market of seating systems and components for passenger cars, commercial vehicles, and light trucks. The company's automotive seating solutions include complete seating systems, frames, mechanisms, foams, head restraints, armrests, and trim covers.